Energy giants ‘face tougher windfall tax within WEEKS’

How energy bills have increased over time 

2018 – £1,300

2019 – £1,353

2020 – £1,295

2021 – £1,339 

(Average household bill – House of Commons Library) 

January 2022 – £1,309

August 2022 – £1,971

(Ofgem price cap)  

October – £3,582

January 2023 – £4,266 

(Cornwall Insight forecasts) 

v its forecasts last week 

October 2022: £3,359 

January 2023: £3,616

Energy giants will soon be hit with a tougher windfall tax in response to a dire new forecast claiming bills will hit £4,400 by the spring.

Former Chancellor Rishi Sunak announced in May that the profits of companies such as BP will be subject to a 25 per cent charge to raise around £5billion a year – but this is set to be increased further in light of growing concerns over how millions of families will afford to heat their homes in the coming months.

Mr Sunak’s successor at the Treasury, Nadhim Zahawi, along with Business Secretary Kwasi Kwarteng, will hold crisis talks with industry bosses on Thursday morning, demanding a…

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Written by Bourbiza Mohamed

A technology enthusiast and a passionate writer in the field of information technology, cyber security, and blockchain

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